Economic Trend News
- Olympic budget boosted to $2b
Date: 22-Oct-2007 Sources: (Shenzhen Daily)
THE budget for the 2008 Beijing Olympics has been increased from US$1.6 billion to US$2 billion to finance enhanced security measures, a top official said Friday.
Liu Jingmin, executive vice president of the Beijing Organizing Committee for the Games of the XXIX Olympiad (BOCOG), announced this on the sidelines of the 17th Communist Party of China National Congress.
The revised figure is still short of the US$2.4 billion spent on the Athens Olympics in 2004, said Liu, who is also a vice mayor of Beijing.
He promised the city will stage 'an absolutely safe and secure Games.'
With security at the very top of the agenda, a high-level command system involving several authorities, including the Ministry of Public Security and the armed forces, has been established, Liu said.
He said the BOCOG is also in regular contact with international organizations, former Olympic host countries and foreign embassies to China to help ensure a safe Games.
The rising value of the yuan had contributed to the need for a new budget, he added.
At the press conference, Liu said he was determined to keep political issues out of the Games.
'Any political issue that has nothing to do with the Olympics shall not be linked to them,'he said, adding that any attempt to boycott the event using a political excuse would be both 'inappropriate and unpopular.'
With regard to environmental concerns, Liu said the city has honored its commitments for a Green Olympiad.
'Over the past few years, the city has moved 167 factories to more remote areas, while helping them with technical innovations to reduce emissions,'Liu said.
However, he said authorities in Beijing have yet to decide whether to suspend the operation of factories in surrounding areas during the Games.
Construction of 27 of the 37 venues has been completed, with nine more set to be finished by the end of the year, according to Liu. The National Stadium will be ready in March.
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